Texas Records $5.99B in E&S Premium Through 2020 Q3
SLTX recorded $5.99 billion in excess and surplus lines (E&S) premium in Texas through the third quarter of 2020. This is a 12.0% increase over premium recorded during the same period in 2019.
Premium reported so far this year continues a trend of each month setting a new record for that month with the exception of July 2020. Total premiums in July, August, and September 2020 were $723.2 million, $717.8 million, and $605.0 million, respectively.
While premium increased through the third quarter, total filings made during this time period decreased 4.0% compared to filings through the third quarter of 2019. SLTX recorded 802,321 filings to date in 2020 compared to 836,043 through the third quarter of 2019.
Based on the continued increase in SLTX premium, especially relative to policy filings, it appears the Texas E&S market is continuing to harden. As quarter four approaches, SLTX will continue to monitor the Texas surplus lines market and share additional data as it is recorded.